Friday, September 28, 2018

Round-up of important news from major Korean dailies and from international media today:

The Korea Post media (www.koreapost.com) in English, (www.koreapost.co.kr) in Korean.

Chairman Kim Jong-Un might attend the Inter-Korean Historical-Cultutural Heritage Exhibition on March 3’

Exhibition Management Manager Chung Myung-hee at the National Museum of Korea in Seoul said, “We have the Inter-Korean Historical-Culutural Heritage Exhibition scheduled to start on March 3, 2019 for a 3-month run at the National Museum of Korea in Yongsan District, Seoul, in commemoration of the 1100th anniversary of the founding of the Goryo Dynasty.”

Why not ask Lee Myung-bak to give W100 bil. in scholarship in lieu of imprisonment?”

All the former Presidents of the Republic of Korea have faced a tragic fate with the sole exception of Presidents Kim Young-sam and Kim Dae-jung. The ill-fate came from the new governments succeeding the old ones. Now two of them are still in jail, former Presidents Park Geun-hye and Lee Myung-bak. At this juncture, opinions are being expressed one after another ridiculing the present situation and some even say, “Now what will happen to President Moon Jae-in after his term of office is over?”

N. Korea seeks assistance, support from ROK business leaders

Deputy Prime Minister Ri Ryong-nam of North Korea has admitted economic difficulties faced by his country, and asked for assistance and support from the Republic of Korea (south). This was disclosed by Special Presidential Economic Advisor Kim Hyun-chul. DPM Ri of North Korea made the comments in a meeting with top South Korean business executives earlier this week, The executives, including Samsung Electronics Vice Chairman Lee Jae-yong, accompanied Moon on his first trip to Pyongyang for a summit with Chairman Kim Jong-un of North Korea earlier this week.

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KBS (http://world.kbs.co.kr/english/news/)

BOK Sees Limited Impact from Fed Rate Hike

The U.S. Federal Reserve raised interest rates again on Wednesday, widening the rate gap with South Korea to point-75 percentage point. Bank of Korea chief Lee Ju-yeol said there will be a limited impact on the South Korean financial market over the widely anticipated move, but still hinted at tighter monetary policy to come. "Today the committee raised the target range for the federal funds rate by a quarter percentage point bringing it to two to two and a quarter percent."

US Returns 64 Sets of Remains of S. Korean Soldiers

The U.S. has returned 64 sets of remains of South Korean soldiers killed in the Korean War that it had jointly recovered with North Korea over a decade ago. The U.S. Defense POW/MIA Accounting Agency said Thursday that the remains were handed over to South Korea in a ceremony at the Joint Base Pearl Harbor-Hickam in Hawaii. The remains are reportedly among some 400 found during U.S.-North Korea joint excavation operations in Jangjin Reservoir, South Hamgyeong Province and Unsan in North Pyongyan Province between 1996 and 2005.

Opposition Enraged as Lawmaker's Office Raided

The main opposition Liberty Korea Party(LKP) has declared an all-out fight against the ruling administration as prosecutors raided the office of lawmaker Shim Jae-cheol last week on suspicions of leaking classified information. Interim party leader Kim Byong-joon said in an LKP party meeting on Thursday that the prosecution’s move against Rep. Shim is an effort to persecute the opposition bloc while ignoring parliamentary power.

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Yonhap (http://english.yonhapnews.co.kr)

U.S. rate hike to have limited impact on S. Korea: official

The latest rate hike by the U.S. Federal Reserve will have a limited impact on South Korea, with authorities here ready to take actions if the need arises, a senior government official said Thursday. As widely expected, the U.S. Federal Reserve raised interest rates by a quarter of a percentage point to a range of 2 percent to 2.25 percent Wednesday and signaled one more rate hike within this year. The U.S. central bank said it foresees three more rate hikes in 2019.

Trump sees no need to fix timeline for N.K. denuclearization

U.S. President Donald Trump said Wednesday he sees no need to set a timeline for North Korea's denuclearization as long as the regime has stopped its nuclear testing. Speaking in a press conference in New York, Trump said he doesn't want to be drawn into a "time game" over how long it will take to dismantle the North's nuclear weapons and ballistic missile programs. "If it takes two years, three years or five months, doesn't matter. There's no nuclear testing, and there's no testing of rockets," he said at the end of his visit to the United Nations General Assembly.

S. Korean president urges U.N. not to leave N. Korea behind

North Korea is sincerely moving down the path of complete denuclearization and its acceptance and inclusion by the international community will help further accelerate the process, South Korean President Moon Jae-in said Wednesday. "North Korea on April 20 officially terminated its nuclear development policy, and has been focusing all its efforts on economic development," Moon said in his address to the United Nations General Assembly in New York.

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The Korea Herald (http://www.koreaherald.com)

Pompeo hails 'dawn of new day' with N. Korea

U.S. Secretary of State Mike Pompeo on Thursday hailed the "dawn of a new day" with North Korea as the U.S. pushes diplomacy to denuclearize the regime. Chairing a meeting of the United Nations Security Council in New York, Pompeo sounded a hopeful note on the diplomatic negotiations between Washington and Pyongyang. But he also called for strict enforcement of all U.N. Security Council sanctions on Pyongyang until denuclearization is achieved.

S. Korea's consumer sentiment rebounds in Sept.

South Korea's consumer confidence rebounded after a three-month slide in September on the back of brisk exports and low inflationary pressure, central bank data showed Friday. The composite consumer sentiment index (CCSI) for this month stood at 101.7, up 2.5 points from the previous month, according to the survey by the Bank of Korea (BOK).

S. Korean foreign minister vows continued enforcement of sanctions on N.K.

South Korea remains committed to enforcing sanctions on North Korea to pressure the regime to give up its nuclear weapons program, Seoul's top diplomat said Thursday. Speaking to the United Nations Security Council in New York, South Korean Foreign Minister Kang Kyung-wha said Seoul will also continue to improve relations with Pyongyang to ease tensions on the peninsula.

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The Korea Times (http://www.koreatimes.co.kr)

Expectations high for North Korea-US big deal

Washington and Pyongyang are moving quickly to find common ground in their denuclearization negotiations after South Korean President Moon Jae-in's landmark visit to Pyongyang last week. Top officials of the two countries met on the sidelines of the U.N. General Assembly, Wednesday (local time), to discuss a roadmap for the North's nuclear disarmament. U.S. Secretary of State Mike Pompeo posted on Twitter about his meeting with his North Korean counterpart Ri Yong-ho in New York.

`Trump can be breakthrough in denuke talks'

The mood is picking up again as a second summit between U.S. President Donald Trump and North Korean leader Kim Jong-un is expected soon, but despite what Trump sees as ''tremendous progress,'' denuclearization may not be so realistic, says a prominent North Korean expert. But there is a way to make it happen, Dr. Han Park, professor emeritus of international affairs at the University of Georgia and founding director of the Center for the Study of Global Issues, said in an interview with The Korea Times.

Discount store chains cornered by online malls, bulk stores

Discount store chains such as E-mart and Lotte Mart have been suffering from declining sales and profits over the past few years as more consumers shop online and go to bulk purchase stores such as Costco for lower prices. According to market data firm Nielsen Korea, Thursday, purchases online increased by 31.9 percent during the January-May period this year from a year earlier. The growth rate was far higher than that of all other distribution channels.

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Chosun Ilbo (http://english.chosun.com)

Next USFK Chief Casts Doubt on Inter-Korean Military Deal

The next commander of the U.S. Forces Korea on Tuesday cast doubt on an inter-Korean military deal that would result in the withdrawal of soldiers from the demilitarized zone. Gen. Robert Abrams told the U.S. Senate Committee on Armed Services that all activities in the DMZ are under the jurisdiction of the UN Command, which the USFK commander also heads. President Moon Jae-in and North Korean leader Kim Jong-un last week agreed to withdraw 11 guard posts each from the DMZ by year's end and disarm the Joint Security Area in the border truce village of Panmunjom.

Moon, Abe Clash Over Sex Slaves Deal

There was little love lost on Tuesday between President Moon Jae-in and Japanese Prime Minister Shinzo Abe as they met on the sidelines of the UN General Assembly in New York. The two leaders clashed over a deal compensating women who were forced into sexual slavery by imperial Japan during World War II. Abe urged Moon to "faithfully abide by the agreement" signed in murky circumstances with the Park Geun-hye administration in 2015 that indirectly compensates the victims but compels no admission of guilt from Tokyo.

Moon, Trump Sign Revised FTA

President Moon Jae-in and his U.S. counterpart Donald Trump on Monday put their signatures on a revised bilateral free trade agreement. The signing came on the sideline of the UN General Assembly in New York. The two sides agreed on the revisions in late March after three rounds of talks since January.

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HanKyoReh Shinmun (http://english.hani.co.kr)

Moon focuses on mediation role at UN General Assembly

South Korean President Moon Jae-in focused on his role as a “mediator” in resolving the current impasse between Pyongyang and Washington during his US visit to attend a UN General Assembly session, actively sending messages about the sincerity of North Korean leader Kim Jong-un’s commitment to denuclearization to the international community, US President Donald Trump and US diplomats.

2nd NK-US summit likely to depend on US corresponding measures

US President Donald Trump officially signaled plans on Sept. 24 for a second summit with North Korean leader Kim Jong-un, which he said would be taking place “in the not too distant future” at a time and place to be announced shortly. The second set of denuclearization talks between the two leaders now appears almost certain to take place as early as October, and no later than the end of the year.

Moon asks Trump to exempt SK automobiles from additional trade tariffs

At a bilateral meeting between South Korea and the US on Sept. 24 in New York, South Korean President Moon Jae-in asked for an exemption for South Korean automobiles from Section 232 of the US Trade Expansion Act. In response, US President Donald Trump instructed an attendant at the summit to review Moon’s request. Moon made the above request at the signing of the recently amended US-Korea Free Trade Agreement (KORUS FTA) between the trade ministers of both countries, also directly addressing Trump and expressing his opinion that additional import tariffs would be unreasonable. The South Korean automobile and automobile parts industries are watching keenly for the possibility that the US government might acquiesce to this request.

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The Dong-A Ilbo (http://english.donga.com/)

Trump says he will not have ‘time game’ over N. Korea’s denuclearization

U.S. President Donald Trump said Wednesday (local time) that he does not need to “rush” an agreement with North Korea to denuclearize the communist state. “We’re not playing the time game,” he said at a news conference on the sidelines of the U.N. General Assembly in New York. “If it takes two years, three years or five months, it doesn’t matter,” Trump said. The remarks are different from U.S. Secretary of State Mike Pompeo’s statement that stressed completing the North’s denuclearization within President Trump’s first term in office, which ends in January 2021.

Incheon Airport to have duty-free shop at arrival gates next year

Incheon International Airport will have duty-free shops at arrival airport terminals in May next year. It appears to alleviate the inconvenience of having to purchase duty-free items in a hurry or traveling with duty-free goods that were purchased in advance. Such regulatory reform measures were announced by the government on Thursday at the 6th Ministerial Meeting for Innovative Growth Relations held by Deputy Prime Minister and Economy and Finance Minister Kim Dong-yeon at the Seoul Government Complex.

Wife of late Chinese activist Liu Xiaobo arrives in the U.S.

Liu Xia, the wife of 2010 Nobel Peace Prize winner Lie Xiaobo, who passed away in prison after he was accused of attempting to subvert the state from the Chinese government, visited New York City to attend the forum for human rights in China and the awarding ceremony for writers. It is her first official schedule since her arrival in Berlin in July, after eight years of being confined to her home.

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JoongAng Ilbo (http://koreajoongangdaily.joins.com/)

Trump rejects North ‘time game’

U.S. President Donald Trump said Wednesday in New York that he did not have a time frame for the denuclearization of North Korea as U.S. Secretary of State Mike Pompeo prepares for a visit to Pyongyang next month. “I think we’re really going to do something that’s going to be very important,” Trump said Wednesday during a news conference on the sidelines of the UN General Assembly, “but we’re not playing the time game.”

Fate of Yongbyon is a ‘big deal’: Hecker

American nuclear scientist Siegfried S. Hecker said “demilitarization” of North Korea might be wiser than a complete denuclearization and the process could be sped up by converting its nuclear and missiles program into joint civilian-use projects. Hecker, a former director of the Los Alamos National Laboratory in New Mexico and a professor emeritus at Stanford University, sat for an exclusive interview with the JoongAng Ilbo and Korea JoongAng Daily on Thursday at the Millennium Seoul Hilton in central Seoul, reflecting on the progress of nuclear talks with North Korea this year.

Duty-free on arrival set for Incheon next year

The country’s first duty-free store available to returning travelers will open at Incheon International Airport as early as next May, the Finance Ministry announced Thursday. Currently, duty-free purchases are allowed only for passengers departing Korea, either at an international airport or in advance at city locations with the goods available for pick-up at the departure terminal.

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The KyungHyang Shinmun (http://english.khan.co.kr/)

Second NK-US Summit Imminent: A Possible Milestone in a Grand Transition on the Korean Peninsula

The news that poured out from New York during the Chuseok holiday was as abundant and hopeful as the holiday gifts. In an opening statement during the summit between President Moon Jae-in and U.S. President Donald Trump on September 24 (local time), the U.S. president said "I'll be meeting with Chairman Kim in the very near future," and added, "We will be announcing when and where in the very near future," making it official that the two countries will be holding a second summit.

Real Estate Policy and the Votes of the Homeowners

"All state authority shall emanate from the people." This is Article 1, Section 2 of the Constitution, which became well known after the people sang the words at the candlelight demonstrations last year. The sentence means that the country belongs to the people. But not everyone can personally run the state. That is why we elect representatives and delegate power. This is the government. Thus in a democracy, the people are the "principals" and the government is the "agent." However, sometimes the interests of the principal and the agent can differ, and problems can occur when the agent takes actions that go against the interests of the principal. This is the principal-agent problem that has long been studied in politics and economics, and the relationship of the shareholder and corporate management is an often-cited example.

Liberty Korea Party Condemns Pyongyang Declaration Despite International Support

President Moon The conservative Liberty Korea Party and Bareun Mirae Party are criticizing the results of the summit between President Moon Jae-in and North Korean leader Kim Jong-un. On September 20, Kim Byung-joon, chairman of the Liberty Korea Party's emergency committee said, "They hardly made any progress on denuclearization, while they weakened our military force considerably." He further said, "They agreed to remove the eyes of our military in reconnaissance (of North Korea)." Kim Kwan-young, floor leader of the Bareun Mirae Party said, "When it comes to denuclearization measures, nothing much has changed from before." The attitude of the conservative parties is regrettable, for they seem to be busy trying to undermine the summit, without even attempting an objective assessment.

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AJU Business Daily (http://eng.ajunews.com/korea)

S. Korean companies secure financing deal for wind power project in Jordan

Two South Korean energy companies have signed a financing agreement worth 80 billion won ($72 million) for the construction of a wind power complex with a capacity of 51.75 megawatts in the Tafilah region in Jordan. Daelim Energy, a Seoul-based energy and infrastructure development company, and Korea Southern Power (KOSPO), a public energy company, agreed in 2015 to jointly participate in the $101 million wind power project in Jordan and set up Daehan Wind Power, which is responsible for financing, sales of power and licensing.

S. Korean researchers develop biometric identification tool for PC

A South Korean state research institute has developed a server technology that enables personal computers (PCs) to use voice, fingerprints and other biometrics as user identification tools. Using different kinds of biometrics to gain access to important data or user information has become a norm in the era of smartphones. Such identification methods rely on sensors fitted into smart devices, and many PC users still use a combination of passwords and encrypted keys to protect vital information and data.

S. Korea's top mobile carrier develops on-demand AI movie scene search technology

South Korea's top mobile carrier SK Telecom has developed a new scene search technology which uses artificial intelligence (AI) to match keywords requested by service users in finding movie and TV drama scenes. The new technology called "AI media recommendation" works like a web search engine. When users search for certain scenes, SK Telecom's AI analyzes movies and sorts short scene clips into categories such as a kiss scene to show matching results.

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Maeil Business News Korea ( http://www.pulsenews.co.kr/)

Korea’s biggest shopping extravaganza kicks off on Friday

Korea Sale Festa (KSF), South Korea’s equivalent of Black Friday, will take place from Sept. 28 to Oct. 7, with major retailers to offer a wide selection of deals at some of the lowest prices of the year. Now in its third year, KSF is a week-long shopping bonanza launched by the Ministry of Trade, Industry and Energy and the Ministry of Culture, Sports and Tourism aimed to draw locals and tourists through deep discounts in various retailers including department stores, hypermarkets, online stores and traditional markets.

CJ, Samsung Electro-Mechanics, Coway’s Q3 OPs to hit record high

South Korea’s CJ Corp., Samsung Electro-Mechanics Co. and Coway Co. that are enjoying their monopolistic position in respective markets in the country are expected to report record high quarterly operating profit in the third quarter, according to local financial data provider FnGuide on Wednesday. Seoul-based FnGuide forecast that as many as 20 companies in Korea are poised to deliver record high quarterly operating profit in the third quarter ending Sept 30 this year and of them, eight firms are expected to enjoy operating profit of more than 100 billion won ($89.6 million).

Fed’s rate hike to have limited impact on Korean mkt: BOK chief

Bank of Korea Governor Lee Ju-yeol anticipated a limited impact of the U.S. Federal Reserve’s latest rate hike on the Korean financial markets, but admitted the widening gap between the two countries’ key rates would complicate the Korean central bank’s rate decision. “The Fed’s rate hike was widely expected and its outlook was also in line with expectation,” Lee said during his meeting with local reporters on Thursday after the U.S. Fed raised the benchmark rate for the third time this year to 2.0 percent-2.5 percent overnight. “It would have a limited impact on the Korean financial market.”

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See what the world media around the world have to report:

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Financial Times www.ft.com ean@ft.com
The Times www.thetimes.co.uk help@timesplus.co.uk
The Sun www.thesun.co.uk talkback@the-sun.co.uk
Chinese People's Daily www.people.com.cn kf@people.cn
China Daily www.chinadaily.com.cn circulation@chinadaily.com.cn
GwangmyeongDaily www.gmw.cn webmaster@gmw.cn
Japan's Yomiuri www.yomiuri.co.jp japannews@yomiuri.com
Asahi www.asahi.com customer-support@asahi.com
Mainichi www.mainichi.jp
Le Monde www.ilemonde.com
Italy LaRepubblica www.quotidiano.repubblica.it vittorio.zucconi@gmail.com
Germany Frankfurter AllgemeineZeitung www.faz.net anzeigen.ausland@faz.de
SüddeutscheZeitung www.sueddeutsche.de forum@sueddeutsche.de
Australia Brisbane Times www.brisbanetimes.com.au syndication@fairfaxmedia.com.au
Sydney Morning Herald www.smh.com.au
Colombia Reports http://colombiareports.com
Bogota Free Planet http://bogotafreeplanet.combfp@bogotafreeplanet.com
El Universal http://www.eluniversal.com.mx/english
Andes http://www.andes.info.ec/en
Ecuador Times http://www.ecuadortimes.net
The Jordan Times https://www.jordantimes.com
LSM.lv http://www.lsm.lv/en
The Baltic Times http://www.baltictimes.com lithuania@baltictimes.com, estonia@baltictimes.com, editor@baltictimes.com
El Pais http://elpais.com/elpais/inenglish.html
Philippine Daily Inquirer https://www.inquirer.net
Daily News Hungary http://dailynewshungary.com
Budapest Times http://budapesttimes.hu
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The Korea Post is running video clips from the different embassies.
Azerbaijan: https://www.youtube.com/watch?v=OR8CBpcQ4WM
Sri Lanka: https://www.youtube.com/watch?v=hByX92Y2aGY&t=22s
Morocco: https://www.youtube.com/watch?v=jfFmp2sVvSE
And many other countries.
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